Equity Group has sought exemption from a rule in the Democratic Republic of Congo (DRC) that demands the lender sells a 30 percent stake in the subsidiary to nationals of the central African nation.
The lender sent a memo to the DRC government on May 27 through the bankers’ lobby, the Association Congolaise des Banques (ACB), requesting an exemption to the rule that looks set to slow down Equity’s ambition to reduce reliance on the Kenya operations.
